Read the story here. Advertise at Before It's News here.
Profile image
By Euro Rate Forecast (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

EURGBP Inches Higher After Inflation and Vaccine Threat

% of readers think this story is Fact. Add your two cents.

The EURGBP exchange rate was 0.13% higher on Wednesday morning as the single currency attempts to recover ground from sterling’s strong start to 2021. Inflation data from the UK showed a large miss on forecasts after retailers slashed prices. This morning also sees PMI data from Germany, Europe and the UK.

EURGBP trades at 0.8625 as the pair seeks a third day of gains but the pair has erased earlier euro gains after the release of data.

PMI Data Will Guide Rates After Inflation Miss

The Eur v GBP rate is now looking to the latest Purchasing Manager’s Index data from German, the Eurozone and the UK this morning. The German manufacturing sector has been strong despite the lockdowns and is expected to show a reading above 60 once more.

The Eurozone and UK both beat expectations this morning with a 56 reading for the Euro composite number beating the 51 expected. The UK actually saw a strong number for its services sector at 56.8 versus hopes for a 51 reading.

The numbers helped to erase euro gains after UK inflation was a dud at growth of 0.4% compared to analyst expectations for 0.8%.

British prices slumped after retailers cut the cost of clothing and footwear in an attempt to shift stock. The retail sector is also seeing some if its stores closing down because of the lockdowns and this is causing further cuts in pricing.

Merkel Rules Out Blanket Vaccine Ban

German Chancellor Angela Merkel has warned the UK that shipments from a Dutch AstraZeneca plant to the UK will continue to be guarded by the EU, although the Chancellor ruled out a blanket ban on vaccine exports to the UK. Sterling’s value was losing ground after the EU vaccine threats, which came as Europe’s largest economy was set to impose a complete shutdown over the Easter holidays.

The British Prime Minister has said this morning that the country would stick to his roadmap for reopening “step by step, jab by jab” with the country saying that 28 million people have now been vaccinated. A further reopening is set for April and despite the vaccine hiccup, the UK should be well ahead of the European reopening, which will play into the future pricing of the euro to pound exchange rate.

The EURGBP found support near the 0.8550 level in the last week and is attempting to make a path to the 0.8700 level. Get in touch to disuss these factors in fruther detail and be kept up to date with the latest market movements.

The post EURGBP Inches Higher After Inflation and Vaccine Threat appeared first on Euro Rate Forecast.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.